Traders are exhibiting unexpected confidence in IT stocks ahead of the Q4 results season, cutting bearish bets and initiating long positions. This shift is driven by expectations of a slowdown in AI adoption, coupled with attractive valuations and oversold conditions, signaling a potential contrarian opportunity for the sector.
‘We faltered, did not move quickly:’ How IBM CEO Arvind Krishna’s statement led to $70 billion wipeout
IBM shares rebounded nearly 2% in premarket trade after plunging 25% in their worst single-day fall in 58 years, wiping out nearly $70 billion in